Federal government evaluates potential candidates for Federal Reserve position – according to news reports
The search for the next Federal Reserve chair is heating up, with a list of contenders that includes several prominent figures from within the Fed and economic advisory circles.
Treasury Secretary Scott Bessent is leading the search, having been tapped by President Donald Trump to find a successor to current chair, Jerome Powell. Bessent is handling the first round of candidate interviews, and will narrow the field before passing a shortlist along to Trump for final meetings.
Among the top contenders are Fed Governor Christopher Waller, who is gaining momentum in the process, having attracted favorable attention from President Trump’s team. Waller, however, has not met the president personally yet.
Current Fed Vice Chairs Michelle Bowman and Philip Jefferson, along with Dallas Fed President Lorie Logan, are also being vetted for the chair position.
Kevin Hassett, former economic advisor to Trump, is also in the running, alongside others such as economist Marc Sumerlin, former Fed officials Kevin Warsh, and James Bullard, who was formerly the president of the St. Louis Fed. Warsh, a critic of Powell’s chairmanship, remains under consideration alongside Hassett.
Stephen Miran, recently nominated by Trump for a seat on the Fed Board, is emerging as part of the broader Fed leadership discussions but is not listed as a front-runner for chair.
The selection process reflects a range of economic philosophies and leadership styles being considered. The anticipated next steps include further interviews and an official nomination, which is expected in the upcoming northern autumn.
Despite the ongoing U.S. Tariffs, the greenback is steadying, and gold futures are being affected. The selection of the next Federal Reserve chair is a crucial decision that will have far-reaching implications for the economy.
Stay tuned for updates as the search for the next Federal Reserve chair continues.
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- The search for the next Federal Reserve chair involves various figures from the realm of banking, politics, and finance, as Treasury Secretary Scott Bessent leads the process and interviews potential candidates like Christopher Waller, Michelle Bowman, Philip Jefferson, Lorie Logan, Kevin Hassett, Marc Sumerlin, Kevin Warsh, James Bullard, and Stephen Miran.
- The selection process, which includes further interviews and an anticipated official nomination in the upcoming northern autumn, will have profound effects on policy-and-legislation, business, and general news due to its crucial impact on the economy.
- Existing Fed Vice Chair Michelle Bowman and President of the Dallas Fed Lorie Logan, along with economic advisor to Trump, Kevin Hassett, are being considered for their leadership styles and diverse economic philosophies, exemplifying the wide-ranging considerations in the decision-making process for the Fed chair position.
